Bill Text: IL HB2431 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Authorizes a credit to each individual taxpayer equal to 20% of the costs of providing medical care and education, including transportation, for a grandchild or step-grandchild during the tax year. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back or carried forward. Exempts the credit from the Act's sunset provisions. Effective immediately.

Spectrum: Partisan Bill (Democrat 8-0)

Status: (Introduced - Dead) 2009-03-13 - Rule 19(a) / Re-referred to Rules Committee [HB2431 Detail]

Download: Illinois-2009-HB2431-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 HB2431 Introduced 2/19/2009, by Rep. Charles E. Jefferson - Keith Farnham SYNOPSIS AS INTRODUCED:
35 ILCS 5/218 new
Amends the Illinois Income Tax Act. Authorizes a credit to each individual taxpayer equal to 20% of the costs of providing medical care and education, including transportation, for a grandchild or step-grandchild during the tax year. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back or carried forward. Exempts the credit from the Act's sunset provisions. Effective immediately.
LRB096 09537 RCE 19696 b
FISCAL NOTE ACT MAY APPLY
A BILL FOR
HB2431 LRB096 09537 RCE 19696 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Income Tax Act is amended by adding
Section 218 as follows:
(35 ILCS 5/218 new)
Sec. 218. Credit for grandchild care.
(a) For each taxable year ending on or after December 31,
2009, each individual taxpayer is entitled to a credit against
the tax imposed by subsections (a) and (b) of Section 201 of
this Act equal to 20% of the costs of providing medical care
and education, including transportation, for a grandchild or
step-grandchild during the tax year.
(b) In no event shall a credit under this Section reduce
the taxpayer's liability to less than zero. If the amount of
the credit exceeds the tax liability for the year, the excess
may not be carried back or carried forward.
(c) This Section is exempt from the provisions of Section
250.
Section 99. Effective date. This Act takes effect upon
becoming law.